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For a Large Nation, the Levying of an Import Tariff

Question 151

Multiple Choice

For a large nation, the levying of an import tariff on steel


A) necessarily causes the nation's welfare to decline.
B) causes the price of steel on the world market to decline.
C) causes the price of steel for domestic consumers to rise by the full amount of the tariff.
D) necessarily causes the nation's welfare to increase.

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